The utility vehicle and tractor maker Mahindra and Mahindra (M&M) has registered a growth of 15.5% in its total sales, which stood at 20,653 vehicles during May 2008, as compared to 17,079 in May 2007 during the corresponding period of the last year.

In its domestic sales, the company registers a healthy growth of 13% at 19,296 vehicles during May 2008, as against 17,079 vehicles a year ago.

Exports during the same month stood at 1,357 vehicles as compared to 802 vehicles in May 2007.

In the meantime sales of Logan fell to 1,531 units in May 2008, as against 2,551 units a year ago.

During the year ended on March 31, 2008, the company registered a growth of 3.3% in its net profit, which stood at Rs 1,103 crore, as against the corresponding period of the previous year. Net sales for the year augmented 14.7% to Rs 11,503 crore.

The yearly operating margin of the company dropped from 12.5% to 11.6%. The company expects further pressure on the margin during the existing year.

The company has earmarked a capital expenditure of Rs 2,000 crore for FY09, which it plans to fund through internal accruals.

At 1:50 pm, the shares of the company lost 0.4% to trade at Rs 591 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 872 and a low of Rs 543 on BSE.